FG Clears ₦39.63bn Pension Arrears for 24,814 Retirees, Restores Confidence in DBS System

the Federal Government has released ₦39.63 billion to 24,814 eligible Defined Benefit Scheme (DBS) pensioners, marking a major step toward clearing long‑standing pension arrears and restoring confidence among retired public servants.

In a statement issued Friday, the Federal Ministry of Finance said the payments ended years of anxious waiting for thousands of retirees who had endured prolonged uncertainty over their entitlements.

Working under the supervision of the Ministry, the Pension Transitional Arrangement Directorate (PTAD) executed the disbursements following a directive from the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, to prioritise verified pension liabilities nationwide.

Oyedele said the payment demonstrated the administration’s commitment to honouring Nigerians who dedicated their productive years to national service.

“A nation that values service must also honour those who gave their productive years in its service. This payment is about people, not just figures. It is about restoring confidence, rewarding sacrifice, and giving thousands of pensioners and their families the reassurance that they have not been forgotten,” he said, according to Efe Ovuakporie, Head of Information and Public Relations at the Ministry.

Breakdown of the ₦39.63bn Disbursement

ValidViewNetwork reports that the payments covered three major categories of outstanding pension obligations accumulated over several years:

• ₦25,053,703,604.12 Cleared the 35‑month pension arrears owed to 9,675 eligible DBS pensioners of the defunct NITEL/MTEL.
• ₦9,481,886,576.53 Represented the initial 50% payment of the Back-End Computation (BEC) arrears due to 3,959 eligible PHCN DBS pensioners.
• ₦5,094,784,054.27 Covered the outstanding 50% balance of the 10.66% and 12.95% pension increment arrears owed to 11,180 DBS pensioners of the defunct Assurance Bank, NICON Insurance, NITEL, and People’s Bank of Nigeria.

Relief for Thousands of Families

For many beneficiaries, the payments bring long‑awaited relief — enabling them to meet pressing family needs, settle medical bills, support dependants, and enjoy retirement with greater peace of mind.

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Oyedele emphasised that the government remains mindful of the human stories behind every pension payment, noting that pension reforms will continue to prioritise dignity, fairness, and transparency.

In a country where pension arrears have too often symbolised neglect, the latest disbursement signals a renewed commitment to accountability and compassion.

ValidViewNetwork reports that for thousands of retirees, the Federal Government’s action is more than a financial transaction . It is a long‑overdue acknowledgement of service, sacrifice, and the right to retire with dignity.